Craig Boneau is a partner at Reid Collins & Tsai in the Austin office. Boneau appears in federal and state courts and arbitrations across the country representing plaintiffs in professional-liability litigation, including legal and audit malpractice, financial-fraud-based litigation, insolvency disputes, and cross-border financial litigation.
Boneau believes there is no one-size fits all approach to the type of complex, often cross-border, commercial cases he handles, and so he works with his clients to create a strategy that puts each client in the best position to succeed. That approach means being thoughtful from the outset of a potential litigation, before anything is ever filed, and often includes weighing the benefits of initiating the lawsuit in each of the available jurisdictions before determining which one provides the client with the best chance to succeed on its claims.
Boneau regularly brings professional malpractice, breach of fiduciary duty (including against directors and officers), fraud, and fraudulent transfer claims on behalf of his clients against some of the largest institutions in the world. In doing so, he often represents the victims of financial fraud, including companies, hedge funds, and private equity funds. Many of Boneau's clients are in insolvency proceedings, and so his representations include working on behalf of court-appointed trustees and receivers.
Boneau has broad experience handling cross-border insolvency cases. He has represented liquidators and creditors in a variety of off-shore matters, including the Bear Stearns Feeder Funds, Ocean Rig, ICP Strategic Credit Income Fund, Fletcher Income Leveraged Fund, AJW Master Fund, CK Pearl Fund, and Trade and Commerce Bank. Boneau has pursued both U.S. and foreign-law claims on behalf of liquidators in the context of a Chapter 15 proceeding, as well as in state court.
Boneau has been named as one of the 500 Leading Plaintiff Financial Lawyers in America by Lawdragon each year since 2019, and was named as one of the next generation of legal leaders in America by Lawdragon in its 2023 inaugural Lawdragon 500 X list.
Lawdragon Honors
| Honor | Year | Practice |
|---|---|---|
| The 2026 Lawdragon 100 Leading Cayman Lawyers | 2026 | Financial Services Litigation |
| The 2026 Lawdragon 500 Leading Litigators in America | 2026 | Financial Litigation |
| The 2025 Lawdragon 500 Leading Lawyers in America | 2025 | Financial Litigation |
| The 2025 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2025 | Financial Litigation |
| The 2024 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2024 | Financial Litigation |
| The 2024 Lawdragon 500 Leading Litigators in America | 2024 | Financial Litigation |
| The 2023 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2023 | Financial Litigation |
| Lawdragon 500 X – The Next Generation | 2023 | Financial Litigation |
| The 2022 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2022 | Financial Litigation |
| The 2021 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2021 | Financial Litigation |
| The 2020 Lawdragon 500 Leading Plaintiff Financial Lawyers | 2020 | Financial Litigation |
| Lawdragon 500 Leading Plaintiff Financial Lawyers | 2019 | Financial Litigation |
Notable Representations:
- Boneau represents the litigation trustee for Brooks Brothers, asserting breach of fiduciary duty and fraudulent transfer claims against Brooks Brothers’s former executives in the Delaware Court of Chancery.
- Boneau represented the Chapter 7 trustee for Dura Automotive, a bankrupt portfolio company of Lynn Tilton’s Zohar Funds, asserting breach of fiduciary duty claims against its former executives, including Tilton.
- Boneau represents the Joint Official Liquidators of Farfetch Limited, a Cayman Islands company, to investigate claims related to the company’s collapse.
- Boneau represents North American Sugar Industries in its Helms-Burton claim against a group of defendants that orchestrated a scheme to ship wind turbines to Cuba using a Cuban port stolen from North American Sugar by the Castro Regime.
- Boneau represents a federal receiver in legal practice claims against the receivership entity’s former law firm related to a Ponzi scheme.
- Boneau represents an aluminum company that had a catastrophic fire at its facility causing over $100 million in damages in a suit against its insurance companies, which have refused to pay for the entirety of the company’s claim.
- Boneau represented a founder of a private equity firm asserting claims against his client’s co-founders for the theft of his client’s ownership interest in the firm that assisted the co-founders. The case settled on confidential terms.
- Boneau represented the Cayman Island liquidators of the Bear Stearns feeder funds asserting a $500 million legal malpractice claim against a major U.S. law firm. The case settled on confidential terms prior to a decision on a motion to dismiss.
- Boneau represented an E&P oil and gas company in its $100 million suit against an investment fund and its partner for misappropriating confidential information obtained under an NDA to usurp a deal for a oil and gas property. The suit settled on confidential terms after Boneau's client defeated a motion to dismiss and an appeal of the trial court’s decision.
- Boneau represented the litigation trustee for the estates of a group of health-care related entities in its breach of fiduciary duty and fraudulent transfer claims against its former directors and officers. The matter settled for a confidential amount prior to the initiation of litigation.
- Boneau represented the litigation trustee for the estate of a bank holding company in claims against the former directors and officers for breaches of fiduciary duty and against the former auditor for audit malpractice. The matter settled for a confidential amount prior to the initiation of litigation.
- Boneau represented the SEC-appointed receiver to recover assets in connection with a $475 million Ponzi scheme perpetrated by Trevor Cook, including pursuing fraudulent transfer claims against a futures commission merchants.
- Boneau represented a litigation trustee for a group of bankrupt funds that were part of an investment structure run out of New York. The funds include Cayman Island and Bermuda based funds. Boneau is pursued fraudulent conveyance, negligence, and fraud claims against the funds’ professional service providers. The matter was successfully settled.
- Boneau represented the liquidators of Cayman Islands hedge funds that invested in a group of failed CDOs in pursuit of U.S-law and Cayman-Island-law based fraudulent conveyance claims against a large international bank which were successfully settled.
- Boneau represented a group of funds in a $95 million legal malpractice case against a major international law firm arising out of its negligence representation in connection with a CLO warehouse extension. The case was successfully settled on confidential terms.
- Boneau represented the Texas County Retirement Systems, a governmental pension fund, in pursuit of its fraud claims against a number of international banks related to the pension fund’s investment in RMBS. The case has been resolved.
- Boneau represented a bank in pursuit of fraud claims against an underwriter and servicer of various RMBS arising from the bank’s purchase of the fraudulent RMBS. The case was successfully settled on the eve of trial on confidential terms.
- Boneau represented the Chapter 7 trustee of the bankruptcy estate of a New York investment fund that was an estimated $400-million Ponzi scheme. Craig pursued fraudulent transfers on behalf of the estate against futures commission merchants. The cases were successfully settled on confidential terms.
